Wealthfront Advisers LLC Takes $112,000 Position in Alexander & Baldwin, Inc. (NYSE:ALEX)

Wealthfront Advisers LLC purchased a new stake in Alexander & Baldwin, Inc. (NYSE:ALEX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,308 shares of the financial services provider’s stock, valued at approximately $112,000.

Several other institutional investors have also bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Alexander & Baldwin by 48.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,761 shares of the financial services provider’s stock valued at $865,000 after buying an additional 15,841 shares in the last quarter. Amundi boosted its stake in Alexander & Baldwin by 43.6% in the 4th quarter. Amundi now owns 73,365 shares of the financial services provider’s stock valued at $1,270,000 after buying an additional 22,287 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Alexander & Baldwin in the 4th quarter valued at $272,000. Aigen Investment Management LP acquired a new stake in Alexander & Baldwin in the 4th quarter valued at $227,000. Finally, Proficio Capital Partners LLC acquired a new stake in Alexander & Baldwin in the 4th quarter valued at $421,000. Institutional investors and hedge funds own 91.29% of the company’s stock.

Wall Street Analysts Forecast Growth

ALEX has been the topic of several recent analyst reports. StockNews.com lowered Alexander & Baldwin from a “buy” rating to a “hold” rating in a research note on Sunday. Piper Sandler boosted their price objective on Alexander & Baldwin from $23.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Finally, JMP Securities reissued a “market perform” rating on shares of Alexander & Baldwin in a research note on Monday, January 6th.

Alexander & Baldwin Price Performance

Alexander & Baldwin stock opened at $17.63 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. The firm has a market cap of $1.28 billion, a P/E ratio of 28.43 and a beta of 1.27. The business’s fifty day moving average is $17.75 and its two-hundred day moving average is $18.53. Alexander & Baldwin, Inc. has a 52 week low of $15.53 and a 52 week high of $20.30.

Alexander & Baldwin (NYSE:ALEX) last released its earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.15. The company had revenue of $62.45 million during the quarter, compared to the consensus estimate of $49.68 million. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. Equities research analysts forecast that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current fiscal year.

Alexander & Baldwin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.11%. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22. Alexander & Baldwin’s payout ratio is presently 107.14%.

Alexander & Baldwin Profile

Alexander & Baldwin, Inc engages in the real estate business. It operates through the Commercial Real Estate and Land Operations segments. The Commercial Real Estate segment includes investments and acquisitions, construction and development, and in-house leasing and property management. The Land Operations segment consists of legacy landholdings, assets, and liabilities subject to the company’s simplification and monetization effort.